MORTGAGE ADVICE OR INFORMATION ONLY. WHAT DOES IT MEAN?

It is very important you understand whether you are getting information or advice when looking for a mortgage.

Some sales representatives in banks and building societies (and some mortgage brokers) will talk you though different mortgage options then leave it for you to decide which you’d like based on the information they have provided.

If opting to buy through your bank or building society, ask to buy based on advice. And always check with your mortgage broker or estate agent adviser whether you are being offered information only or advice.

Your adviser is obliged to make it clear to you what type of service you are getting and this will be set out in the document ‘Key facts about our service’. If you buy based on information only, you have few rights of redress should your mortgage turn out to be unsuitable for you.

The majority of lenders in Cardiff who offer mortgages do not offer advice. These include Principality Building Society, Natwest, Royal Bank of Scotland (RBS) Santander, C&G and HSBC.

At Neil Soundy Financial Services Ltd we are proud to offer advice on everyl lenders and every mortgages.